There are a lot of people who might say that day traders will only be effective if a good charting software is at hand. Particularly, the job of a trader is to interpret the data that appears on the screen. There is already a lot of software available in the market, both from independent sellers and brokerage firms. Mostly, brokerage firms provide Forex trading software to clients who want to start with their own accounts.
Among this software, some will cost you so much just to obtain their premium package while a lot claims that they are the best choice for newbie traders. Beyond all these uncertainties, here are some of the most popular trading software used nowadays by Forex Traders from different parts of the world.
It goes to the list of the most well-known trading software in the market today. MetaStock showcases 300 technical indicators with exceptional drawing tools to match these technical indicators and all the other important commodities to cater to the needs of every Forex Trader. The two packages offered in MetaStock both showcases high-rated software.
If you take interest in the United States or Canadian stocks, then you will find Worden TC2000 very helpful. Its most-loved features are instant messaging, sorting, stock charts, alerts, news, watch lists, and scanning. TC2000 also has 70 indicators, a user-friendly trading interface, and a backtesting function. It’s almost perfect functionality does not provide any automated trading instrument.
Another reputable and well-known trading software that offers research capabilities is eSignal. They offer different features based on the package that you will use. eSignal features global coverage for asset classes like Forex, stocks, bonds, derivatives, and funds. It is very popular when it comes to trade management and stock charts that can be customized.
It is a charting and trading software that provides a solution to order entry, execution as well as library integration that is compatible with 1,000 apps and more. NinjaTrader is very famous that it has become the most used trading and research platform, specifically geared to help Forex Traders. NinjaTrader also offers trade simulator and trade learning given to new traders. If you want to try it for live trading, you may use the free version of NinjaTrader.
It offers advanced products for the seasoned trader. With its high-end functionality which includes artificial intelligence, system testing, joined order execution, Fibonacci Vortex, training mode, and a lot of others.
EquityFeed Workstation is very famous for its feature called FilterBuilder. This feature is made from a lot of filtering criteria which enables the traders to look and choose the best stocks based on their desired parameter. They are standing true to their claims that they are the best screening software that we have nowadays. The only downside of this software is its limited indicators as well as its lack of backtesting and automated Forex trading. For those who want to test the product first before actually paying for it, they offer a two-week free trial.